Reliance Brands is all set to expand the global shoe brand Steve Madden in India by opening 10 new stores by 2016-17 in Bhubaneshwar, Guwahati, Cochin, and Coimbatore. Import duty of 60 to 90 per cent on Steve Madden products is levied as 90 per cent of its products are imported, leading to huge cost pressure on the brand, and hence the company plans to set up manufacturing units in the country after establishing a sizeable scale of the market.
Reliance is also planning to launch its e-commerce marketplace like Flipkart, Amazon, and Snapdeal by the end of this fiscal year to tap the online retail market potential. It will start with 30,000 vendors and plans to enrol 150,000 small and medium vendors.
